Chicago wheat ended the midweek session with 3 1/2 to 5 cent gains for the day. May SRW traded in a 27 1/2 cent range for the day. The hard red contracts were lower at the close. HRW futures ended down by 2 to 4 1/2 cents, and HRS closed 3 1/4 to 4 1/2 cents lower across the front months.
The MGE reported MN and WI warehouse stocks were 15.424m bushels as of 3/26. That was down 23.3% from last year’s supplies and 99k bushels lighter wk/wk.
Ahead of the weekly Export Sales report analysts surveyed expect to see between 125k MT and 300k MT of old crop wheat sales. New crop sales are expected to be less than 150k MT for the week that ended 3/25.
Interfax reported that Russia is set to construct 61 grain vessels with the lead ships to be ready for launch in 2-3 years.
May 23 CBOT Wheat closed at $7.04 3/4, up 5 cents,
Jul 23 CBOT Wheat closed at $7.16 1/4, up 4 3/4 cents,
Cash SRW Wheat was $6.49, up 4 7/8 cents,
May 23 KCBT Wheat closed at $8.70 1/2, down 2 cents,
Cash HRW Wheat was $8.36 3/4, down 2 cents,
May 23 MGEX Wheat closed at $8.78, down 4 1/2 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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